When Tesla Inc TSLA Shares continued to slide towards the bear case by Morgan Stanley, analyst Adam Jonas began to wonder if Tesla was leaning into value territory.

A member of CNBC’s “Halftime Report” panel suggested that Jonas must have been there LSD or another psychoactive drug this produced altered states of consciousness as he began to think about it Elon Musk-managed company as a value game.

What you should know: Jonas reiterated his overweight rating and price target of $330 for Tesla shares on Wednesday morning (Nov. 23).

“Tesla is nearing our $150 bear case, driven by price cuts in China, slowing demand for EVs and other market trends,” Jonas wrote in a new note to customers.

“An Emerging Value Opportunity?”

Related link: Tesla sees $500bn eroded in 2 months by valuation is a buying opportunity: Analyst sees 100% upside

Why it matters: Gilman Hill Asset Management Jenny Harington was taken aback by Jonah’s use of the word “value.”

“I think you have to be on some pretty hallucinogenic drugs to make a valid argument that Tesla is a discount store or a value stock right now,” Harrington said on CNBC’s Halftime Report.

She immediately referred to the reviews of Tesla competitors Ford Motor Company f and General Motor Company GM. Ford is currently trading at an expected price-to-earnings ratio of around 6.1 Gasoline Pro. GM is even cheaper, trading about 5.5 times forward profit Base.

On the other hand, Tesla’s price-to-earnings ratio on a forward basis is currently above 21.

“Even if you look at next year’s Tesla earnings…there’s no version of it that has value,” Harrington said with a laugh, noting that Tesla was expected to make about $6 a share over the next year.

“If you want to be super speculative and say, hey, $6 is going to grow to $60, then dream well…but you can’t call it a inventory.”

TSLA Price Action: Tesla shares rose 7.82% to $183.20 as of the close on Wednesday Gasoline Pro. Tesla hits a 52-week high of…